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Sinking AI Stocks Pull Wall Street Further From Its Record
The S&P 500 fell 0.5% as investors sold high-flying chipmakers and stayed wary of elevated borrowing costs, with the Nasdaq down 1.1%.
- Wall Street pulled further from its all-time high on Tuesday as AI stocks sank, dragging major indexes lower; the Nasdaq composite fell 1.1% and the S&P 500 dropped 0.5% on track for a third straight loss.
- Leading the decline were big tech winners like Micron Technology, which dropped 3.5%, Nvidia, which fell 1.6%, and Broadcom, which sank 2.2%, as investors fear AI demand may fizzle out.
- Rising Treasury yields are pressuring expensive stocks, as investors scrutinize valuations when borrowing costs climb; the 10-year Treasury yield held at 4.72% on Monday, while the 30-year yield remains near its highest level since 2007.
- High oil prices, driven by uncertainty over the war with Iran, are fueling inflation and pressuring central banks; the price for a barrel of Brent crude rose 0.6% to $91.45, with yields jumping from 3.97% pre-war.
- South Korea's Kospi index fell 1.5% as tech giants Samsung Electronics and SK Hynix struggled, illustrating how bond market influence continues to sway leaders worldwide, including President Donald Trump.
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14 Articles
14 Articles
US stock market today: Wall Street pulls back from record highs as AI-related stocks drop
US stock market today: The decline was led by several of the market's biggest recent winners, particularly companies that have benefited from the surge in artificial-intelligence spending.
·India
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Sinking AI stocks pull Wall Street further from its record
NEW YORK (AP) — Wall Street is pulling further from its all-time high on Tuesday as AI stocks get back to sinking.The S&P 500 fell 0.5% and is on track for a third straight modest loss since setting its all-time high on Thursday. The Dow Jones Industrial Average was down 33 points, or 0.1%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 1.3% lower.Leading the way lower were stocks that have been big winners in the boom around artifi…
·Miami, United States
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Total News Sources14
Leaning Left4Leaning Right2Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 31%
C 54%
15%
Factuality
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